I’m moving! Should I sell or rent my home?

When homeowners decide to move, they are faced with the question:

Should I Sell or Rent my home?

There is no correct answer as each case is highly dependent on the financial situation of the individual. However, the following case study shares how Paul Ruxton from Hassall Grove kept his home and increased his property portfolio when faced with the decision to sell or rent his home.

Paul was faced with the sell or rent dilemma when he asked Michael Talarico for his advice. Paul explained that: “Michael approached us to offer some friendly advice on how we could not only purchase our dream home immediately but also keep our current home as an investment property”.

Michael Talarico, Principal at Hilton Parkes Real Estate has qualifications in finance and can help clients to make the decision that is right for them with regards to their home. Furthermore, Paul discussed “It is obvious to see that Michael has extensive personal experience as an investor and that he truly is a numbers man, with the ability to think outside the square”.The property management team at Hilton Parkes Real Estate were then able to help Paul to find a suitable tenant. “The ladies in the department have been fantastic. Within 24 hours of listing our home, they had people ready to inspect and they were able to achieve a rental amount far greater than we expected”.

Paul was then guided by the Hilton Parkes Property Management team in selecting the right tenant and he was provided a copy of all the paperwork pertaining to the new tenancy. Being a first-time investor, Paul was relieved to see that a very thorough inspection had been done prior to the tenant moving in. From then on it has been smooth sailing for Paul with the Hilton Parkes Property Management Team: “We love that there is always someone in the office to help with our queries, however, if we need to leave a message, our phone calls and emails have always been returned promptly. Hilton Parkes have always taken the time to really hear us and they have exceeded all of our expectations”.

When moving, the question often arises: Should I sell or rent my home?

This can be confusing so your approach should be two-fold:

1.Financial advice: Ensure that you get good financial advice so that you will not be financially stretched with the extra property in your portfolio.

2.Rental advice: Ensure that you have the most up to date rental appraisal completed by a property manager who works in your area every day. They must give you the most accurate indication of what your property may rent for, in order for you to complete your financial plan.

If you are asking yourself the should I sell or rent my home question right now, you are welcome to the same financial advice that Michael Talarico was able to extend to Paul, who went on to grow his property portfolio by an extra property.

Contact us today to begin the process of either selling or renting your home today.